Elsewhere in Asia, bouncers traded on a positive note in mid-season deals in Shanghai, Hong Kong, Tokyo and Seoul.
The equity benchmark Sensex climbed over 500 points in early trade on Friday, leading the index major HDFC Twins, ICICI Bank and L&T to rise amid positive trend in global markets.
The 30-share BSE index rose 500.92 points or 1.03% to trade at 48,941.04, and the broader NSE Nifty rose 156.30 points or 1.09% to 14,481.20 points.
L&T was up over 2% in the Sensex pack, followed by Bajaj Finserv, M&M, Tech Mahindra, NTPC, Asian Paints, ICICI Bank and HDFC.
On the other hand, PowerGrid, TCS, Drs. Reddy’s and Sun Pharma were involved in the leggards.
In the previous session, the Sensex fell 740.19 points or 1.51% to close at 48,440.12 and the NSE Nifty fell 224.50 points or 1.54% to 14,324.90.
Foreign Institutional Investors (FIIs) were net sellers in the capital market on Thursday as they closed shares worth 3,383.60 crore, as per exchange data.
“Domestic equities are looking good at the moment. The rapid rise in COVID-19 cases in the country has clearly put investors at risk in the domestic market. However, the drop in bond yields and oil prices has brought some relief this week.
In his view, the ongoing concerns of a new wave of coronaviruses in the country could keep the market volatile in the near term.
Meanwhile, US equities recovered from the day’s low and ended with modest gains supported mainly by improved job data and revised GDP figures for the December quarter.
Elsewhere in Asia, bouncers traded on a positive note in mid-season deals in Shanghai, Hong Kong, Tokyo and Seoul.
Meanwhile, global oil benchmark Brent crude was trading up 0.86% at $ 62.48 a barrel.
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